False trade orders that spur sharp market price reactions before they disappear — otherwise known as “spoof orders” — have the full attention of authorities as evidenced by a recent record fine against JPMorgan, and the conviction of two former traders at Deutsche Bank. JPMorgan Chase & Co. has agreed to pay nearly one billion… Read More >>
Access Fintech Gets Two Boosts from JPMorgan
Post-trade start-up Access Fintech is getting two boosts from JPMorgan Chase & Co.: a round of series A funding from the bank, and membership in the JPMorgan In-Residence program — all to bolster the young vendor’s offering that brings together many post-trade processes into a single, aggregated view. The JPMorgan funding may pave the way… Read More >>
JPMorgan Chase Penalized $264M for Bribery-Hiring Scheme
JPMorgan Chase & Co. will pay more than $130 million to settle SEC charges that “it won business from clients and corruptly influenced government officials in the Asia-Pacific region (APAC) by giving jobs and internships to their relatives and friends in violation of the Foreign Corrupt Practices Act (FCPA),” the commission says. In addition, JPMorgan… Read More >>
S&P May Cut Ratings for BofA, Citi, JPMorgan, Morgan Stanley & Others
Eight major U.S. financial services firms may have another issue to worry about as ratings agency Standard & Poor’s is putting them on a watch list for ratings cuts because these firms may be affected by a proposed rule of the Federal Reserve ending bailouts for firms that are “too big to fail.” The eight… Read More >>
Barclays Proposes ‘Ice Breaker’ $94M Settlement for Euribor Case
Barclays has stepped forward and proposed a potentially trend-setting $94 million settlement with U.S. authorities over the antitrust case brought against it and 10 other banks over allegations they commandeered the European Interbank Offered Rate (Euribor) to their advantage. This proposed settlement for Sullivan et al v Barclays Plc, case number 13-02811, is before Judge… Read More >>
